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Long Term Tenancy Agreement
"I need a Long Term Tenancy Agreement for a commercial office space in Kuala Lumpur, starting from March 2025, with specific provisions for tenant improvements and an option to renew after the initial 5-year term."
1. Parties: Identification of landlord and tenant with full details including registration/ID numbers
2. Background: Brief context of the agreement and property ownership
3. Definitions: Definitions of key terms used throughout the agreement
4. Demised Premises: Detailed description of the property being leased
5. Term and Possession: Duration of tenancy, commencement date, and possession details
6. Rent and Payment Terms: Rental amount, payment schedule, and method of payment
7. Security Deposit: Amount, payment terms, and conditions for return of security deposit
8. Utility Charges: Responsibility for utilities and payment arrangements
9. Use of Premises: Permitted use and restrictions on property usage
10. Maintenance and Repairs: Responsibilities of each party for maintenance and repairs
11. Landlord's Covenants: Obligations and promises of the landlord
12. Tenant's Covenants: Obligations and promises of the tenant
13. Insurance: Required insurance coverage and responsibilities
14. Default and Remedies: Consequences of breach and available remedies
15. Termination: Grounds and procedures for early termination
16. Notices: Method and addresses for formal communications
17. Governing Law: Applicable law and jurisdiction
18. Execution: Signature blocks and attestation
1. Option to Renew: Terms for renewal of lease, used when parties want to pre-agree extension terms
2. Renovation and Alterations: Specific terms for property modifications, needed when renovations are contemplated
3. Assignment and Subletting: Terms for transferring or subletting, included when these rights are granted
4. Break Clause: Conditions for early termination, included when flexibility is needed
5. Green Lease Provisions: Environmental and sustainability requirements, for green buildings or eco-conscious parties
6. Parking Rights: Specific parking arrangements, needed for properties with parking facilities
7. Common Areas: Rights and obligations regarding shared spaces, for properties in larger developments
8. Force Majeure: Provisions for unforeseen circumstances, particularly relevant post-COVID
9. Quiet Enjoyment: Extended provisions for tenant's undisturbed use, for high-end properties
10. Special Building Rules: Additional rules for specific building types or managed properties
1. Schedule 1 - Property Details: Detailed description of property including floor plan and boundaries
2. Schedule 2 - Inventory List: List of furniture, fixtures, and fittings included in the tenancy
3. Schedule 3 - Rent Schedule: Detailed breakdown of rent payments and review dates
4. Schedule 4 - Building Rules and Regulations: Specific rules applicable to the property or development
5. Schedule 5 - Condition Report: Initial condition of the property with photographs
6. Schedule 6 - Maintenance Schedule: Regular maintenance requirements and schedules
7. Appendix A - Registration Documents: Copies of relevant title or registration documents
8. Appendix B - Special Conditions: Any additional terms specific to this tenancy
9. Appendix C - Utilities Reading: Initial utility meter readings at handover
10. Appendix D - Handover Form: Checklist for property handover and key transfer
Authors
Real Estate
Commercial Property
Residential Property
Retail
Office Space
Industrial
Hospitality
Healthcare
Education
Manufacturing
Logistics
Technology
Legal
Property Management
Facilities Management
Operations
Finance
Compliance
Risk Management
Asset Management
Real Estate
Administration
Property Manager
Facility Manager
Real Estate Manager
Legal Counsel
Corporate Lawyer
Leasing Manager
Asset Manager
Operations Director
Chief Financial Officer
Real Estate Agent
Property Administrator
Compliance Officer
Risk Manager
Tenant Relations Manager
Contract Administrator
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